Have you ever thought of being an Entrepreneur?

seven wrote:an employee who makes >100K/yr

i'd rather be an employee even ifi make less than 100K/year

i like to have a life and not worry about work after 5pm...owning a business is too much work...and i lack that kinda passion for anything (any business)

truthbetold wrote:The group on this forum would probably need at least a quater million to move their buns of cushy chairs to take risks. There could be cultural issues that could prevent many indian immigrants from taking any deviations from beaten path.

truthbetold wrote:There is something in silicon valley water. May be one of you entrepreneur's can bottle that and sell it to other indian immigrants outside the valley.

truthbetold wrote:There is something in silicon valley water. May be one of you entrepreneur's can bottle that and sell it to other indian immigrants outside the valley.

truthbetold wrote:The group on this forum would probably need at least a quater million to move their buns of cushy chairs to take risks. There could be cultural issues that could prevent many indian immigrants from taking any deviations from beaten path.

Kumarg wrote:Thanks for sharing your views Raw emoticons :-)

I am not sure what you meant by saying that one would need $ 1mil to live comfortably.For how long?
>>Well until we kick the can, I guess OR until social security starts to take care of some of the expenses.

What is your basis for that number?
>>Lifetime costs, factoring in inflation. I do not think interest rates in US are going to keep up with inflation.
>>The entire world is doing QE! and now India also wants to join the bandwagon and FM is pressurizing RBI.
>>Well this is my view. Somebody else can have a different view.
>>If you own a house (Mortgage)/otherwise rents + decent healthcare + insurance costs + education (assuming two kids) + misc expenses + trips to India +
>>some extra for unforeseen events + vehicles + electronic gadgets + various memberships to various institutions etc.. + Inflation (net present value) +
>>basic essentials (clothes , food, communication etc..) + occasional splurging on luxury products coming up (etc..) + some help towards blood relatives +
>>Misc. (I am sure I missed a few categories here)
>>Then you factoring in inflation and then compute the net present value, based on interest rates you get (which are likely to be lower than real inflation)
>>and off course assuming that you do not have an income (except for what you can get from safe investments), in case something goes awry.

Is it for a family or a single person?
>>Family.

Are you saying that is the money one is expected to have in savings at the time of retirement?
>>It depends on where you are. I am assuming someone who still has responsibilities towards his/her family and their kids.

I mean if an avg educated Indian in the US earns 100K a year, how long will it take him to accumulate 1 milion USD?
>>You got it right! With taxes and everything it takes quite a long time to get there. That is the reason people really think hard before making a switch.


Time wise , see one can always have their salaried job and work on their own start up on the weekends.
>> Yes, well I said there are always risk takers who are willing to go the extra mile. But I do not think everybody can do that.
>> In addition there are a few who do not care about their current wealth and still do it. NRN did it, Bill Gates did it.
>> But this is an employee perspective who is going to join an established startup, not a co-founder.


Having your company is not just about money, I think its more about freedom, independence and the huge satisfaction and high you get from the fact that you are paying other people's salaries and supporting their household :-)

Natalia Romanova wrote:Nothing entrepreneur-y about me. It's gonna be either working or not working. I prefer not working but I should have thought this through 15 years ago and gone for a rich guy. So ya, am gonna be this way as long as I can pull it off.